Comprehensive Income

3 Months Ended

Mar. 31, 2018

Equity [Abstract]

Comprehensive Income

Comprehensive IncomeComprehensive income reflects the change in equity of a business enterprise during a period from transactions and other events and circumstances from non-owner sources. For the Company, comprehensive income represents net income adjusted for unrealized gains and losses on certain investments, foreign currency translation adjustments, and derivatives. 

The following table presents the net changes in the Company's accumulated other comprehensive income (loss) by component: (All amounts shown are net of tax).

	Three Months Ended March 31,
	2018		2017
Foreign currency translation adjustments:
Balance at beginning of period	$	645,030	$	(2,862,999)
Other Comprehensive income before reclassifications	1,626,178		188,590
Net current-period change	1,626,178		188,590
Balance at end of period	2,271,208		(2,674,409)
Unrealized gains (losses) on available-for-sale debt securities:
Balance at beginning of period	(16,349)		2,788,975
Other Comprehensive income before reclassifications	548,506		1,575,383
Amounts reclassified from accumulated other comprehensive income	(565,317)		(164,718)
Net current-period change	(16,811)		1,410,665
Balance at end of period	(33,160)		4,199,640
Unrealized gains (losses) on derivatives:
Balance at beginning of period	(78,026)		(1,197,281)
Other comprehensive income before reclassifications	43,173		147,318
Amounts reclassified from accumulated other comprehensive income	9,794		269,966
Net current-period change	52,967		417,284
Balance at end of period	(25,059)		(779,997)
Accumulated other comprehensive income, end of period	$	2,212,989	$	745,234

 

The following table presents details of reclassifications out of accumulated other comprehensive income for the three months ended March 31, 2018 and 2017.

Details about Accumulated Other Comprehensive Income Components	Amounts Reclassified from Other Comprehensive Income				Affected Line item in the Statement of Consolidated Income
	Three Months Ended March 31,
	2018		2017
Unrealized gains (losses) on available-for-sale securities
Realized gain on sale of securities	$	715,591	$	253,413	Other income (loss), net
Provision for income taxes	(150,274)		(88,695)		Provision for income taxes
	$	565,317	$	164,718	Net of tax
Unrealized gains (losses) on derivatives
Realized loss on interest rate swap	$	(12,398)	$	(415,333)	Other income (loss), net
Provision for income taxes	2,604		145,367		Provision for income taxes
	$	(9,794)	$	(269,966)	Net of tax
Total net reclassifications for the period	$	555,523	$	(105,248)	Net of tax